The financial system of a country has a great impact on the economy since the financial companies are responsible for the economic growth. As far as India is concerned, the financial sector is operationally sundry, intrinsically strong and exhibits flexibility and competence apart from being sensitive to the economy of India.

Some of the financial services provided by finance companies include investment advice, portfolio management, stock broking, debt collection, credit reporting, mutual funds, house financing and insurance. The names of top-most players in the financial service sector of India are given below:

Top 10 Financial Service Companies:

• SBI Capital Markets Ltd

• Bajaj Capital Ltd

• DSP Merrill Lynch Ltd

• Birla Global Finance Ltd

• Housing Development Finance Corporation

• PNB Housing Finance Ltd

• ICICI Group

• LIC Finance Ltd

• L & T Finance Ltd

• Karvy Group

Some details regarding these companies are given below:

SBI Capital Markets Limited:

SBI Capital Markets is the oldest company in the arena of Capital Markets in India, which was established in the year 1986. It came into existence as an ancillary of the State Bank of India and it holds the pride of being the second top in the project advisory services in the whole of Asia. Some of the subsidiaries of this company are SBICAP Trustee Co. Ltd., SBICAP Ventures Ltd., etc…

Bajaj Capital Limited:

Bajaj Capital limited has a large network of customer-base, which includes individual investors, corporate houses, Non-Resident Indians, Institutional Investors and even high network clients. The company is well-known for its financial planning and investment advisory services.

DSP Merrill Lynch Limited:

The services offered by DSP Merrill Lynch Ltd., are tailored in such a manner as to meet the requirement of every investor irrespective of whether they are individuals or corporate. They offer an array of investor and wealth management services not only to individuals, but also to high-level corporate players.

Birla Global Finance Limited:

Birla Global Finance Limited is a subsidiary of the popular Aditya Birla Nuvo Limited and they are strong players in the arena of capital market and corporate finance. The company has given birth to several other companies like Birla Sun Life Distribution, Birla Sun Life Insurance, etc… because of an alliance with Sun Life Financial belonging to Canada.

Housing Development Finance Corporation:

Housing Development Finance Corporation shortly called as HDFC offers best financial solution for NRI loans, home loans and they are acting as one-stop solution for personal finance. They have operations in foreign countries like Saudi, Qatar, Kuwait and Singapore.

PNB Housing Finance Limited:

PNB Housing Finance Ltd is regarded as the best source for achieving the housing dream of individual investors. The company offers a home loan life insurance plan in association with TATA AIG and this plan is offered at a lowest premium due to which it is widely accepted.

ICICI Group:

ICICI Group offers several financial services like Insta Insurance, online banking and trading, Insta Banking, mobile banking, etc…thereby offering high-class financial services to different segments of the society. They are dealing with several financial services like life insurance, securities, private equity, mutual fund and the list goes on.

LIC Finance Limited:

LIC Finance Limited is one of the biggest housing finance company in India offering finance to individual investors for renovation of an old house or apartment, construction of a new house or repair of an old house or apartment.

L & T Finance Ltd:

L&T Finance Ltd as the name implies belongs to Larsen & Toubro Group and this company came into existence in the year 1994 and is now holding a significant position in the financial sector in India. The company offers different types of loans for agricultural instruments, automobiles, etc…

Karvy Group:

Karvy Group has spanned across not only the Indian Financial Sector, but also the financial sector in several other countries with investment banking, debt market services, depository services, mutual fund services, etc…

The financial service sector in India has shown an overall growth of 15% and the sector has been showing stability over the past several years. They are constantly introducing different financial services to suit the requirement of different types of customers. The growth of financial sector has also improved the employment opportunities to a large number of graduates.